Taylor Wimpey has named Irene Dorner as successor to current non-executive chair Kevin Beeston, who steps down next year.

Dorner, a former head of HSBC in the US, will join the housebuilder as chair-designate and an independent non-executive director at the beginning of December and assume the chair role after the firm announces its 2019 results on 26 February next year.

Beeston, who became Taylor Wimpey’s chair in 2010, will step down at the same time. Last year he earned an overall salary package of £309,000.